Category: Blog

2021 Healthcare Financial Technology Trends

Key Healthcare Financial Technology Trends For 2021

  More than 80% of survey respondents stated that they have confidence in their organization’s ability to “rapidly adjust their plans and strategies.” Healthcare finance leaders are more optimistic about the ability to adjust to a changing business environment and utilize quality data in the decision-making process, according to the 2021 Healthcare Financial Trends Survey report released […]
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Medicare Beneficiaries of Innovative Technology

CMS Accelerates Medicare Beneficiaries’ Access to Innovations

Medicare beneficiaries now have immediate access to innovative medical technology approved by the U.S. Food and Drug Administration (FDA), rather than having to wait for it to clear additional bureaucratic hurdles before coverage is approved. The Medicare Coverage of Innovative Technology (MCIT) final rule issued this week eliminates the time and cost innovators were formerly […]
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2021 ICD-10-CM Coding Guidelines

2021 ICD-10-CM Coding Guidelines Get a Refresh

Several changes have been recently made to the ICD-10-CM Official Guidelines for Coding and Reporting for fiscal year (FY) 2021. The guidelines changes affect code assignment for conditions and symptoms related to COVID-19. The Centers for Medicare & Medicaid Services (CMS) released the updates in December 2020. Familiarize yourself with the following new and revised guidance to […]
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New COVID-19-Related ICD-10-CM Codes Take Effect

International Classification of Diseases, Tenth Revision, Clinical Modification (ICD-10-CM) broke from the usual release schedule and implemented the following six new codes related to COVID-19 on Jan. 1 and issued accompanying guidelines. Z20.822 Contact with and (suspected) exposure to COVID-19 For asymptomatic individuals with actual or suspected exposure to COVID-19, assign code Z20.822. For symptomatic […]
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2021 MPFS Payment Rates

CMS Recalculates Medicare Physician Fee Schedule Rates for 2021

  CMS has updated Medicare Physician Fee Schedule rates for 2021 after a COVID-19 stimulus package mitigated budget neutrality cuts finalized in a December rule. The Consolidated Appropriations Act, 2021 passed by Congress on Dec. 21, 2020, enacted a 3.75 percent increase in Physician Fee Schedule payments for all providers in 2021 to “support physicians and other professionals in adjusting […]
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2021 Revenue Cycle Management Tips

Recovering From Covid-19: How Practices Can Maintain the Revenue Cycle In 2021

  Five tips for improving RCM in a post-pandemic world As a result of the COVID-19 pandemic, the American Hospital Association (AHA) estimates that hospitals and health systems have lost more than $202 billion from a drop in revenue, combined with COVID-19 expenses, during the four-month period from March to June 2020. Healthcare services expenditures also dropped 38% in […]
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2021 Physician Reimbursement Updates

Physician Fee Schedule Updates May Increase Reimbursement, Time with Patients

Some updates to the evaluation/management codes on the 2021 Physician Fee Schedule will provide greater reimbursement to physicians and allow them to spend more time with patients, CMS and medical societies said. According to CMS, the code sets that it is finalizing will increase the value of certain services. These include: cognitive impairment assessment and care […]
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Diversifying Revenue Generators

Diversifying Revenue Generators and Pursuing Digital Transformation

Recently, HealthLeaders hosted its first ‘Virtual Happy Hour CFO Roundtable’ sponsored by Nuance, gathering executives to address the financial and technological challenges facing the health system during the ongoing COVID-19 pandemic. The hour-long roundtable brought together healthcare executives from provider organizations ranging across the East Coast to the Midwest to delve into two key strategic […]
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